Mark Vitner Quotes

We're just now realizing how badly off the economy was in the second quarter... The wider trade gap, along with the weakness we saw in the business inventory numbers that came out this week and weaker construction spending, will probably result in a second-quarter revised GDP number that will be zero or even slightly negative. It will be an eye-opening number, but it's no more worrisome than what we've seen.

- Mark Vitner

Tags

Realizing | Badly | Economy | Quarter | Wider |

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The impact of stronger job growth more than overcomes the impact of higher mortgage rates. It doesn't mean we'll have a month like March every month. But home sales should remain strong even with mortgage rates about a percentage point above the low point. - Mark Vitner

I think Ferguson might be the best vice chairman we've ever had. - Mark Vitner

The No. 1 reason new orders and production are falling is that inventories have risen in recent months as consumer spending has slowed... Such a buildup was acceptable when economic growth was accelerating. Now that growth is cooling off, businesses will need to curb stockpiles. - Mark Vitner